AoChuang Holdings ^{Filed Terms, Nasdaq: ANE}

We are a passenger electric vehicles (EVs) retailer and comprehensive automobile service provider in Hainan Province, China. Leveraging the beneficial local government policy for EV promotion in Hainan Province, the first province in China to propose a timetable for “banning the sale of fuel vehicles” by 2030, we strategically focus our operation on sales and services of EVs instead of internal combustion engine vehicles (ICEVs). We maintain dealership agreements with well-known EV manufacturers in China to operate our 4S dealership stores for a diversified portfolio of popular EV brands in China, consisting of Geely Geometry, Ora, Chery New Energy, and GAC Trumpchi. “4S” stands for four automobile-related business elements initiated by “S”: sales, spare parts, service and survey. We established our first 4S dealership store in Haikou, Hainan Province in 2016, and have since grown to a comprehensive automobile service provider in Hainan with four full-service 4S dealership stores under four PRC operating subsidiaries.